Rare Antonio Gragnani violin valued at $52,000 with Peter Wilson

The rare violin by Antonio Gragnani could beat the record set at Sotheby's in 2012

A rare violin made by Antonio Gragnani is being sold as part of Peter Wilson Fine Art Auctioneers' July 11 auction in the UK.

Gragnani's violins are known from their elegance and workmanship in a time when many other luthiers had descended into poor quality instruments

The mid-18th century instrument still has its receipt, showing that it was purchased in 1917 for 115 ($171). It isnow expected to sell for between 25,000 and 35,000 ($37,252-52,153).

Antonio Gragnani (1740-1794) was likely trained in Florence and is known as one of the finest violin makers of the 18th century. This violin dates to 1763, making it a very early piece from his illustrious career.

"A dendrochronological report carried out on the instrument has confirmed the age of the wood it is made from to be mid-18th century, while a recently obtained certificate of authenticity from a leading expert dates it more precisely to 1763."

The current auction record for a violin made by Gragnani was set at Sotheby's in 2012 at 58,850 ($94,454). The 1779 violin appeared with an identical pre-sale estimate to the present lot.

A Stradivari violin, known as the Molitor, that was thought to have belonged to Napoleon Bonaparte, sold at auction for $3.6m in 2010, setting the world record for any violin.

The auction world is currently holding its breath as the violin played by Titanic bandleader Wallace Hartley is due to appear at auction, having recently been confirmed as genuine following extensive testing and research.